Karnataka’s Secret Weapon: How South Korea Plans to Transform Bengaluru

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Karnataka’s Minister for Large and Medium Industries and Infrastructure Development, MB Patil, recently concluded a series of fruitful meetings in South Korea aimed at strengthening economic ties and fostering international partnerships.

During the visit, Minister Patil engaged in high-level discussions with key South Korean officials and business leaders. Notably, talks with Vice Governor Hyun Gon Kim of Gyeonggi Province and Lee Hae Woo, Deputy Mayor for Economic Policy of Seoul Metropolitan Government, focused on enhancing economic relations between Karnataka and South Korea. Discussions highlighted potential collaborations in sectors such as electronics, startups, R&D, biotech, and medtech, drawing parallels between Bengaluru and Pangyo Techno Valley.

Vice Governor Kim expressed enthusiasm for expanding cooperation and invited Karnataka’s government and companies to participate in the upcoming Gyeonggi Startup Summit and KoINDEX in New Delhi. Mutual business interests in finance, investment, startups, and R&D were explored with Deputy Mayor Lee Hae Woo, underscoring existing collaborations with Indian startups and extending invitations for Korean startups to join Karnataka’s Global Startup Challenge – VentuRISE.

Additionally, discussions with senior executives from KEB Hana Bank centered on the bank’s presence in India and expansion plans, including opening a Bangalore branch. Minister Patil highlighted Bangalore’s global prominence and its potential as a strategic hub for Korean companies.

The proactive engagement by the Karnataka government reflects its commitment to positioning the state as a premier investment destination in India. This initiative not only aims to bolster economic growth but also signifies a concerted effort to leverage international partnerships for mutual benefit.

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